Tropicana buys land, plans to build resort

PETALING JAYA: Tropicana Corp Bhd is acquiring Marivaux Holdings Sdn Bhd, which owns 112 acres of land near Genting Highlands, Pahang, for RM78.25 million.
The property firm said in a statement that its wholly owned subsidiary Tropicana Mentari Development Sdn Bhd bought the entire stake in Marivaux today. It will undertake a resort-type project on the land, which is situated at 3,000 feet above sea level.
Separately, Tropican announced that its fourth-quarter net profit ended Dec 31, 2017 more than doubled to RM69.62 million from RM29.26 million in the previous corresponding period, driven by increased efficiency and productivity as well as advanced progress made in many of its projects.
Quarterly revenue jumped 35.4% from RM457.32 million to RM619.04 million.
Tropicana’s full-year net profit surged 69.3% from RM112.54 million to RM190.48 million, with revenue rising 30.8% from RM1.46 billion to RM1.91 billion.